Patapsco Bancorp Incorporated

Patapsco Bancorp names new CEO

Patapsco Bancorp names new CEO

Patapsco Bancorp Inc. announced Monday that Phil Phillips has been named president and CEO of the Dundalk-based bank holding company.

Phillips, who had been executive vice president, replaces Michael J. Dee, who resigned from the positions he had held since 2006. Dee, 53, also stepped down as a board director.

In a news release, the company said Dee served the bank "during a very difficult period" and that he would remain employed with the bank during a transitional period.

John M. Wright, senior vice president and chief financial officer, said the company would not say why Dee resigned, although he said it had nothing to do with regulatory action against the...